$2,450,000
Phoenix, AZ 85016
MLS# 6974079
1 / 9
Property Description
Fabulous centrally located investment opportunity. These new & modern four units with custom finishes affords a perfect owner-occupied luxurious lifestyle. The property was designed with a 2,000 ft.² owners three bedroom 3 1/2 bath home. The property consists of two, three bedrooms three bath homes and two one bedroom one bath apartments. The three bedroom units include gas fireplace. Superb location right off the 51 freeway with easy access to Sky Harbor Airport and Downtown Phoenix. Situated next to the Sprouts shopping center at 16th St. & Glendale. Adjacent to the canal with an easy walk to the Biltmore Hotel. Must see to appreciate!
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $2,450,000
List Price: $2,450,000
Status: Active
List Date: 2026-01-24
Location, Tax & Legal
Assessor's Map #: 34
Legal Description (Abbrev): LOT 3 TOWN HEIGHTS MCR
Assessor's Parcel #: 3
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 106400
Taxes: 11957
Legal: LOT 3 TOWN HEIGHTS MCR
Marketing Name: Lamar
House Number: 1611
Compass: E
Street Name: LAMAR
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
Zip4: 1015
County Code: Maricopa
Subdivision: TOWN HEIGHTS
Assessor Number: 164-34-003
Tax Year: 2025
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 80' x 144'
Total # of Units: 4
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Year Built: 2023
Zoning: R3
Legal Info
Range: 3E
Section: 10
Township: 2N
Lot Number: 3
Project Type
Four Plex: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Rolled: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 11957
Other Income: 0
Vacancy Allowance: 0.04
Adjusted Gross Inc: 136972.8
Pmt & Rate Info
Cap Rate: 4.92
Equity: 2450000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Text: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Ceiling: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Landscape Water System: 1
Fenced: 1
Partially Fenced: 1
Patio/Balcony: 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Built-In Gas Oven: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Washer/Dryer: 1
Road Access Type
City Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Road Responsibility
City Maintained Road: 1
Water Source
Individual Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
Carport: 1
On Street: 1
>1 Space Per Unit: 1
Garage Door Opener: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Landscaping: 1
New Financing
Cash: 1
Conventional: 1
Existing 1st Loan
Conventional: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1700
Avg SqFt: 800
# Baths: 1
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
# 3 Bedroom Units: 2
Avg Rent: 4250
Avg SqFt: 2000
# Baths: 3
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Cross Street: 16th St. & Glendale Ave.
Directions: Head South On 16th Make First Left Shopping Center Onto Lamar Rd. Property is the second building on the right.
Geo Lat: 33.536468
Geo Lon: -112.046879
Income Expenses
Gross Annual Sch Inc: 142680
Net Operating Income: 120600
Property Features
Project Type: Four Plex
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Rolled
Floors: Vinyl
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Landscape Water System; Fenced; Partially Fenced; Patio/Balcony
Appliances Included: Built-In Gas Oven; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Ceiling
Cooling: Ceiling Fan(s); Electric
Water Source: Individual Meter
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: Garage; Carport; On Street; >1 Space Per Unit; Garage Door Opener
Road Access Type: City Street
Road Surface Type: Asphalt
Road Responsibility: City Maintained Road
Owner Pays: Landscaping
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Text; Phone Call
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 2nd Loan: Treat as Free&Clear
New Financing: Cash; Conventional
Environmental: None
Listing Office: RMB Realty LLC
Last Updated: January - 24 - 2026
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